Choosing the Right Startup Incubator

Scott Sohr
Scott Sohr
Image: sts.ventures

The co-founder of Health Cost Solutions, Elmington Capital Group, and Stonegate Land, Scott Sohr works in a number of industries, from healthcare and fintech to real estate. However, his primary professional focus revolves around leading STS Ventures. Scott Sohr serves as the president of STS Ventures and oversees the company’s startup incubation operations.

Joining a startup incubator provides startups with invaluable resources and support and helps them grow significantly faster. However, it’s important to find the right incubator for your company to ensure you reap all the benefits.

In most situations, the process of finding the right incubator starts with completing plenty of research. Ideally, you should research everything you can about an incubator, from the industries it serves to the mentoring services it offers. Make sure every potential incubator meets your startup’s needs and that it provides experienced and knowledgeable support within your field. Referrals are a great way to start off this process, but you can also complete research without them.

Further, look into an incubator’s previous startups. Doing so helps you see what industries an incubator has experience with and provides you with a clearer idea of an incubator’s success rates. This also gives you a better idea of a particular incubator’s value. You want to choose an incubator that provides the most value for the price you are willing to pay.

Once you have a few options available, you can focus more on getting accepted by an incubator. This involves making sure your startup is established enough and that your company has a clear history and story behind it. You must also be sure that your startup has already established its fundamentals and that the services it provides are beneficial to the market.

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The Best Buddies International 2020 Initiative

Best Buddies International pic
Best Buddies International
Image: bestbuddies.org

Scott Sohr is a Vanderbilt University graduate, who earned his MBA at the university’s Owen Graduate School of Management. In addition to establishing a successful career as a business leader, Scott Sohr contributes to and volunteers with a number of organizations, including Best Buddies International (BBI).

BBI’s aim is to create a world where those with intellectual and developmental disabilities (IDDs), including autism, cerebral palsy, Down syndrome, and many others, can successfully integrate into schools, workplaces, and general society. Its ultimate goal is to create a society that is so inclusive that individuals with IDDs no longer need its resources and support.

To bolster its efforts, in 2011 BBI established its 2020 Initiative with the goal of making BBI a household name. BBI’s efforts under this initiative include opening offices in every US state, creating 2,500 school-based chapters, and providing public speaking training to 4,000 of its Buddy Ambassadors. For more information, visit www.bestbuddies.org.

Gilda’s Club Nashville Support Groups for Kids

Gilda’s Club Nashville pic
Gilda’s Club Nashville
Image: gildasclubnashville.org

The president of STS Ventures, a firm that incubates start-up companies in Nashville, Tennessee, Scott Sohr earned an MBA from the Vanderbilt University Owen School of Management and now sits on the school’s real estate advisory board. Away from his work, Scott Sohr supports Gilda’s Club Nashville, named after Gilda Radner, which provides resources to people with cancer.

Gilda’s Club Noogieland™, named after a Saturday Night Live skit, aims to help children between the ages of 5 and 17 whose lives have been impacted by cancer. Free of charge, Noogieland™ provides two support group programs that offer children a safe environment to express their feelings.

Kid Support™ is a day-long program that offers information relating to communication, socialization, and relaxation for children who live with a loved one who has cancer or have received a cancer diagnosis themselves. Grief Relief™ groups focus on children who have lost someone to cancer. The groups strive to help children process the emotions related to grief and celebrate the lives of those they have lost.

Incubators Support the Work of New Entrepreneurial Ventures

Incubators pic
Incubators
Image: entrepreneur.com

Scott Sohr is the chairman of Built Technologies, a Nashville, Tennessee-based company that focuses on providing construction lenders with a platform that allows them to borrow funding easily online. In addition to his work with Built Technologies, Scott Sohr is the president of STS Ventures, a company that serves as an incubator for successful startups in areas like fintech, healthcare, renewables, and finance.

A startup incubator is a company that provides a collective physical workplace for multiple startups in the same location. The goal of an incubator is to provide these early-stage companies with the resources they need to fuel growth. A company typically can stay within an incubator’s space until it has grown in scale to a size big enough to merit its own location.

In addition to a physical place to work, startups that work with incubators are also usually mentored by experienced investors and entrepreneurs involved with the organization, and may also secure funding from these investors. New entrepreneurs in these business relationships also may gain access to a wider and more accomplished range of business partners, as more established technology and media companies may feel more comfortable working with a newly-created startup backed by an incubator than with a small firm working to find success on its own.